Caixin
Aug 16, 2024 07:10 PM
FINANCE

Alibaba’s Long-Awaited China Stock Link May Provide Timely Boost

00:00
00:00/00:00
Listen to this article 1x
Alibaba is set to upgrade to a primary listing in Hong Kong, paving the way for it to join the connect program with the Shanghai and Shenzhen bourses. Photo: Bloomberg
Alibaba is set to upgrade to a primary listing in Hong Kong, paving the way for it to join the connect program with the Shanghai and Shenzhen bourses. Photo: Bloomberg

(Bloomberg) — Chinese investors finally being able to buy shares of Alibaba Group Holding Ltd. may provide a much-needed boost for the e-commerce firm’s stock, with an inflow of up to about $20 billion into next year.

The company first hatched the plan for an upgrade to a primary listing in Hong Kong two years ago amid heightened tensions with the U.S. It may at last be realized by the end of the month, paving the way for it to join a program that connects the Shanghai and Shenzhen bourses to the Hong Kong exchange.

loadingImg
You've accessed an article available only to subscribers
VIEW OPTIONS

Download our app to receive breaking news alerts and read the news on the go.

Get our weekly free Must-Read newsletter.

Share this article
Open WeChat and scan the QR code